The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-12
BOARD OF TRADE PEOPLE
UP IN ARMS AGAINST THE RAIL.
ROAD COMPANIES
On Account OF the Lack OF Storage
Room Now Being Sc.
yerely Felt.

CHICAGO, Ill June 1.-The Beard
OF Trade people are up Ia arms agains:
the railroad companies on account OF
the lack Of storage room now being
severely felt. The holders Of the grain
in the country would gladly bring it
here to take advantage OF the high
prices now prevailing in this market,
but under the rules Of the Board of
Iiade, the wheat ia not regular for de-
livery on contracts till after it has been
placed in store in regular warehouse
snd q receipt" issued therefor by the
elevator firms. The holders of wheat
in the country have therefore been
confronted with the impossibility of
getting their grain into elevators, and
the presence Of not far from 5000 cars
loaced with whea. in the vicinity of
Chicago has bssn ssufficiant warning
to them not to try to send any more
until additional facilities have been
provided. Something has been done
in that direction within the last fsw
days. Other buildings which will &C.
commodste nearly 100000 BUSH
els have been, by tue di.
rectors of the Board of Trade,
declared irregular and ths
Pacific system has shipped out nearly
1000. 900 bushels of other grain to
make room for arrivals over the Mil.
waukee aud St, Paul lines, hut these
MEASURES are insdt quae. The ware
house men say the charges have less.
ened go that there is no Undue ment
to provide additional room when
there is a prospect that 1t may be |
wanted. 1t costs not far from one
cent pSr bush 81 TO build an elevator,
and the prospect Of receiving three.
quarters of cent for q little while, |
and the elevator standing empty for |
three or four years after, offered no
inducement to build extra storage.
President A. M. Wright, OF the Board
OF Trade, when asked about the mat
ter, said: "The railroads have as
sumed to furnish all storage necessary
to handle grain that comes to this
market. They have prevented any
competition on the furnishing / stor-
age room, they or their agents furnish
ing all OF it themselves. 1t is idle to
talk about the storage room in Chi.
csgo being occupied and that inc
more can be furnished. 1t
is competent for the roads to
build additional temporary storage,
which can be made regular under the
rules OF the Board of Trade to any ex-
tent that may be necessary. They
have agreed to furnish US storage
room, now let them do it. II they
wish to avoid their responsibility in
the future let them throw open the
grain stores to competition in Chicago
and there will never hereafter be any
that there is not enough
storage room for all the wheat in the
Nor, hwest if it desires to seek this
market. "This lack of accommodation
has created feeling OF great bitter.
ness, not only in the board but
throughout the entire trade of the
city. 1t is compelling grain, not wheat
alone, but corn and oats as well, to 90
oy the city, virtually blockadiDg the
business of the city,"
The fact that heavy holders of wheat
are shipping their wheat as rapidly as
possible has affected the general belief
that there is corner in progress. Ves-
eel room was gagged yesterday for
1000 bushels of wheat AID 100000
bushels of grain of all kinds.